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Word Count: 532
First of all resources are what you need to make goods and services In Capitalism private property resources are admitted but in Communism all the resources are under governments control so nobody is allowed to use any resources such as land labor and capitals Secondly since theres no private resources are allowed there wont be any entrepreneurship in Communism Only government produces goods and services in Communism In Capitalism the entrepreneur exists People have right to use their own property and resources so they become the entrepreneur of what he make Thirdly there is no greed or invisible hand in Communism Nobody is allowed to have their own resources so nobody can greed anything only the government has everything and the government decides the price and since theres no entrepreneur there wont be any competitor of certain products In Capitalism greed exists and with enough resources its possible for competition between companies in capital society so the invisible hand will decide the price Fourthly in Communism only government is the one big company their supply is limited since the resources are limited and even though the demands of certain product increases the supply will remain same In Capitalism the market decides the supply and demand If the demand increases the supply increases too and if the demands are low the companies decreases the production of the goods Fifthly the emphasis on personal economic freedom in Communism is very rare They dont own any properties and they cant decide the price or the quality of goods or services In Capitalism once again people have right to use their own property like money They can but whatever they want to buy and they can make anything they want so in order to increase the demands the company makes better quality and services to make buyers to spend money on it Sixthly
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